The 1.1375 level may have held up meekly as support yesterday but it played a big role in capping the overnight moves and therefore confirmed the break. Down to 1.1252 we’ve been and the pain doesn’t look like it’s going to stop there.
The next big level is the 61.8 fib of the 2000 swing up at 1.1210. After that it’s “hold on to your trousers”.
EUR/USD Weekly chart 23 01 2015
